BlackRock unit logs Clearway Energy share forfeiture
BlackRock Portfolio Management LLC, a ten percent owner of Clearway Energy, Inc., reported an "other" transaction involving 101 shares of Class C common stock.
Rhea-AI Filing Summary
BlackRock Portfolio Management LLC, a ten percent owner of Clearway Energy, Inc., reported an "other" transaction involving 101 shares of Class C common stock. The shares reflect a forfeiture of restricted stock previously granted by Clearway Energy Group LLC under its Long Term Equity Incentive Program, and are held directly by Clearway Energy Group. Following the change, 77,075 shares of Class C common stock are reported as indirectly held. BlackRock Portfolio Management LLC and related GIP entities disclaim beneficial ownership except to the extent of any pecuniary interest.
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Filing Explained
The July 9 filing records a 101-share restricted-stock forfeiture; the reported indirect position afterward is 77,075 Class C shares.
Form 4 is used to report an insider transaction; this July 13 filing reports that
The filing identifies the forfeiture as involving 101 shares previously granted under Clearway Energy Group LLC’s Long Term Equity Incentive Program, so it records a plan-related change in the reporting position rather than an open-market sale or purchase.
The reported ownership is indirect through Clearway Energy Group and the related GIP entities described in the footnotes; those entities and the named individuals disclaim beneficial ownership except to the extent of any applicable pecuniary interest.
The filing does not provide the pre-transaction holding balance, so it does not establish the size of the change from the prior position beyond reporting the forfeited shares and the post-transaction balance.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Other | Class C Common Stock F1, F2, F3, F4 | 101 | -- | -- |
Footnotes (4)
- F1. Reflects the forfeiture of shares of restricted stock of the Issuer previously granted by Clearway Energy Group LLC ("Clearway Energy Group") under its Long Term Equity Incentive Program to one or more of its employees.
- F2. Reflects securities held directly by Clearway Energy Group. Zephyr Holdings GP, LLC ("Zephyr GP") is the general partner of GIP III Zephyr Acquisition Partners, L.P. ("Zephyr") which is the sole member of Clearway Energy Group. Zephyr GP is owned by GIP III Zephyr Midco Holdings, L.P. ("Midco") and TotalEnergies Renewables USA, LLC. Global Infrastructure Investors III, LLC ("Global Investors") is the sole general partner of Global Infrastructure GP III, L.P. ("Global GP"), which is the general partner of Midco. As a result, each of Zephyr GP, Zephyr, Midco, Global GP and Global Investors (the "GIP Entities") may be deemed to share beneficial ownership of the securities owned by Clearway Energy Group.
- F3. Adebayo Ogunlesi, Michael McGhee, Rajaram Rao, Deepak Agrawal, Julie Ashworth, Jonathan Bram, William Brilliant, Matthew Harris, Tom Horton, Sugam Mehta and Salim Samaha, as the voting members of the Investment Committee of Global Investors, may be deemed to share beneficial ownership of the Issuer securities beneficially owned by Global Investors. Such individuals expressly disclaim any such beneficial ownership.
- F4. BlackRock Portfolio Management LLC and the GIP Entities disclaim beneficial ownership of the securities reported herein, except to the extent of their respective pecuniary interest therein, if any, and, pursuant to Rule 16a-1(a)(4) under the Securities Exchange Act of 1934, as amended ("the Exchange Act"), BlackRock Portfolio Management LLC and the GIP Entities state that the inclusion of these securities in this report shall not be deemed an admission of beneficial ownership of the securities reported herein for purposes of Section 16 of the Exchange Act or for any other purpose.
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